Essex Property Trust Series H Preferred Stock About To Put More Money In Your Pocket

On 12/28/12, Essex Property Trust, Inc.'s 7.125% Series H Cumulative Redeemable Preferred Stock (NYSE: ESS.PRH) will trade ex-dividend, for its quarterly dividend of $0.4453, payable on 1/15/13. As a percentage of ESS.PRH's recent share price of $26.37, this dividend works out to approximately 1.69%, so look for shares of ESS.PRH to trade 1.69% lower — all else being equal — when ESS.PRH shares open for trading on 12/28/12. On an annualized basis, the current yield is approximately 6.75%, which compares to an average yield of 6.60% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

In Wednesday trading, Essex Property Trust, Inc.'s 7.125% Series H Cumulative Redeemable Preferred Stock (NYSE: ESS.PRH) is currently trading flat on the day, while the common shares (NYSE: ESS) are down about 0.5%.